BANKERS’ BONUSES DROP <10%

Finweek English Edition - - THE WEEK -

Bonuses in the fi­nan­cial in­dus­try are ex­pected to fall by be­tween 5% an 10% this year, ac­cord­ing to com­pen­sa­tion con­sult­ing firm John­son As­so­ci­ates – the first time since 2011 that com­pen­sa­tion for the in­dus­try as a whole is ex­pected to drop, The New York Times re­ported. Bankers in pri­vate eq­uity and merg­ers-an­dac­qui­si­tions will con­tinue to do well, but bonuses in in­vest­ment and com­mer­cial bank­ing will be down 30% from 2009 lev­els, it said. The aver­age se­cu­ri­ties in­dus­try bonus last year was $172 860 (R2.5m), ac­cord­ing to the New York State Comp­trol­ler.

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